Technical View of Markets

New Member

Sensex and Nifty have most probably completed their 4th Wave downwards and this could be the 5th Wave. Generally 5th wave is quite fast. Both Sensex and Nifty should cross above their All time Highs and should be able to sustain above the levels for 1 week atleast. However caution should be maintained near their all time highs as chances of reversal would be possible. Incase our intial stand remains we could see the sensex anywhere between 9300 to 10300, but most probably between 9450-9550. Nifty could be up to levels between 2930 to 3330 But most probably between 2875-2925. This upmove if there may take about 3 months to complete

New Member

Sensex touched an all time High at 9442.98 Just 7.02 Pts short of our Targets recommended on Nov 13th 2005. Nifty however has touched an alltime high of 2857.00 about 18 Pts lower than our target zone. However both indices tumbled down by closing. As previously mentioned we would have most likely completed the 5th Wave of the rally which started at 2594 in the second week of September 2001.

A breakdown below9237 will confirm a fall based on the weekly charts also. Last week was a doji formation after a good run up. A break below the low would trigger selling further.

Momentum is showing a downward bias from a overbought zone. Now maintain extreme caution. BEARS ready to takeover. Disclaimer:This is not an invitation or Solicitation to trade in securities. Securities mean shares,commodities,forex,bonds, bullion and or its derivatives. Trading or Buying and Selling of securities is risky and can cause losses.You may consult a certified financial analyst before taking action based on this system/advice.